Good morning,

Last night Uncle Ben opened the flood gates again in the US..maybe not with the printing machines but certainly with his rhetoric about keeping interest rates low for sustainable periods and being prepared to pump money in if needed..well that was all it took to get the Dow rocking and rolling…there is few alternatives to the equity market with interest rates so low so money is pouring in from the sidelines..of course it’s a different story here with our own Shire Clerk Glen doing his utmost to keep the dollar high and this is decimating the economy…well done guys..people are hurting out there and if you listen to the Liberal party, it’s about to get much worse with a raft of new taxes coming in…MRRT and Carbon tax..although I am a bit confused about the MRRT as they keep saying that BHP/RIO/Xstrata won’t pay a cent as they legged Swanny over in the negotiations..anyway we will see but certainly the Carbon tax will hurt but that is the point..to change people’s habits you have to hurt them where they feel it most..in the hip pocket..otherwise we will never change our energy consuming ways and embrace the green side..Luke.

Few things caught my attention;

1.Bank of Queensland’s Mea Culpa yesterday..nasty

2.Watched Barnaby Joyce on Lateline last night…scary ..

3.Watched Q&A and the bickering was just incredible..no wonder we have lost patience with Politicians of both parties..I mean Julia has a better PM rating than Tony, yet he is killing it in the polls..And I am not sure what Planet Bob Carr is on..

4.Big capital raising from Beach may take some of the bubble out of the Canning basin stocks like BRU for a day or so…run so hard its scary!

5.TLS has launched its second 4G phone to keep rivals at bay.

6.Student loans in the US are spiralling out of control and could be another potential issue down the track..there are 67bn bucks worth of loans in default!!!!thats a big HECS bill!

7.Dick Cheney has had a transplant…found a heart after all!

8.Man U beats Fulham to go 3 points clear!

As to stocks…Iron Ore remains stubbornly strong so maybe BHP is worth a look and RIO..FMG continues to be strong on possible corporate action and expansion plans..you have to give it to those guys they do what they say they are going to do…shame others don’t.

Corporate News Today

  • JB Hi-Fi full year sales results
  • Nufarm first half results
  • Australian Masters Corp bond fund No 5 meeting
  • RFi launches inaugural report on retail banking
  • Beacon Minerals general meeting
  • Investa Office Fund unitholders’ meeting
  • Wah Nam International Holdings special meeting

Expect our market to be up around 1% with Miners and Financials to lead the way..SPI up 43 points.

Maybe this time we will bust the 4300 level..if so may be a good sign..yay!

Back on TV tomorrow so stay classy Sydney

Clarence

xxx

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